Assets & GRAP
GRAP Compliance by Standard
Assessed compliance across the applicable GRAP standards.
Why Standard-by-Standard Compliance Matters
GRAP is not optional; the Accounting Standards Board prescribes it and the AGSA audits financial statements against each applicable standard, so compliance must be demonstrable standard by standard, not asserted in general. Tracking compliance per standard turns the looming year-end disclosure exercise into a managed, evidence-based process and prevents the late surprises that drive qualifications. AuditPro Core assesses compliance across the applicable GRAP standards so gaps are visible early and remediation is planned, not improvised.
The Numbers
AuditPro Core renders this view from your tenant's live, tamper-evident records. The figures below are illustrative sample data.
Overall GRAP Score
86%
▲ 5 pts YoY
Standards Assessed
18
applicable
Below Threshold
3
score < 70%
Open Findings
21
in remediation
Compliance Score by Standard (%)
Standard Detail
| Standard | Score % | Findings | Status |
|---|---|---|---|
| GRAP 17 - PPE | 92% | 2 | Compliant |
| GRAP 9 - Revenue | 81% | 4 | Compliant |
| GRAP 104 - Fin Instruments | 66% | 6 | At risk |
| GRAP 19 - Provisions | 62% | 5 | At risk |
| GRAP 1 - Presentation | 90% | 1 | Compliant |
Figures shown are illustrative sample data for demonstration. AuditPro Core renders these views from your own tenant's live, tamper-evident records.
Applicable standards
Only the standards relevant to the entity's transactions apply, but each that applies must be complied with fully. A standard-by-standard view confirms nothing applicable has been overlooked.
Recognition, measurement and disclosure
Compliance has three layers: recognising the right items, measuring them correctly and disclosing them as the standard requires. An entity can recognise and measure correctly yet still fail on disclosure.
Effective dates and transitions
Newly effective standards bring transition requirements and first-time disclosures. Tracking the standards calendar prevents an entity reporting under a superseded basis.
How AuditPro Core Bridges the Gap
- Continuous monitoring: compliance status is maintained per standard through the year so readiness is known well before the reporting deadline.
- Exception workflow: standards assessed as partially or non-compliant are routed for remediation with an owner and target date.
- Audit-ready export: the compliance assessment exports as a working paper supporting the basis-of-preparation note and the audit file.
- Traceability to source: each compliance conclusion links to the underlying disclosures and records that evidence it.
Key Takeaways
- Compliance must be demonstrable per applicable standard, not asserted in general.
- Disclosure failures qualify opinions even where recognition is correct.
- Track effective dates so newly effective standards are adopted on time.
- Assess through the year to avoid year-end compliance surprises.
See This on Your Own Data
AuditPro Core renders this dashboard from your tenant's live, tamper-evident records — every figure traceable to source.